Q: Hi, Could you please comment on Tiny earnings. Thank you
5i Research Answer:
TINY reported revenue of $51M increasing 7% year-over-year. Recurring revenue was $9.6M and made up 19% of total revenue, and increase of 1% from prior year levels. TINY acquired MediaNet, which has 98% SaaS based subscription revenue. Debt continued to reduce in the quarter as TINY made $16M in repayments bringing net debt to $98.7M. Cash flows are still negative but did make some nice improvements from the prior year. A solid quarter from TINY as it takes steps towards profitablity and positive cash flows, while debt is coming down along with revenue growth.